Tesla worth $1trn as investors cheer deal with Hertz which has ordered 100,000 electric vehicles

Tesla worth $1trn as investors cheer deal with Hertz which has ordered 100,000 electric vehicles

10/25/2021 8:37:00 PM

Tesla worth $1trn as investors cheer deal with Hertz which has ordered 100,000 electric vehicles

Following the announcement of the deal, Tesla's shares jumped by over 9.5% to top $995.75, making the company worth $1trn, according to Reuters.

Only five other publicly listed companies in the US have reached the $1trn mark so far: Apple, Amazon, Microsoft, and Alphabet, the parent company of Google.Hertz customers will be able to access Tesla's network of superchargers across the US and Europe - and the rental company has also pledged to install 3,000 chargers of its own by the end of next year.

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"We absolutely believe that this is going to be competitive advantage for us," said Mark Fields, the acting chief executive of Hertz.Image:Mr Musk's company is currently struggling to fulfil a backlog of ordersSpeaking to Reuters, Mr Fields added:"We want to be a leader in mobility...Getting customers experience with electrified vehicles is an absolute priority for us."

Hertz currently has around 430,000 to 450,000 vehicles worldwide, and has said it will work with other companies producing electric vehicles - not just Tesla. Following the latest order, Mr Fields said that electric vehicles will make up more than 20% of its global fleet. headtopics.com

Read more: Sky News »

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